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Eurozone producer prices rise more than expected in July

Industrial producer prices in the eurozone grew more than expected in July, with the energy sector leading the increase, Eurostat data showed.

Prices were up 0.4% month over month in July, matching the pace of growth in June and slightly above Econoday's consensus estimate of a 0.3% increase.

Energy prices rose 1.1%, the same pace of increase as in June. Prices for intermediate goods, capital goods, durable and nondurable consumer goods ticked up 0.1%. Excluding energy, prices were up 0.1%.

On an annual basis, industrial producer prices grew 4.0% in July following a 3.6% rise in the prior month. Excluding energy, prices were up 1.7% year over year.